We consider two types of synthetic request arrivals, namely, Poisson and Markovian. We model the time-varying rent cost sequence for both kinds of arrivals using the Autoregressive moving-average (ARMA) model [1]}, specifically ARMA(4,2) with expected rent cost in a slot given as \(c\) . To choose the parameters of the model, we fit the model using the process described in [2]} to real world price data obtained from [3]}, which provides region-wise prices of unused EC2 capacity in the Amazon Web Services (AWS) cloud.
